Solana’s price has dumped over 5% in the last 24 hours, and a prominent analyst issued a warning that its bull run may be over. However, the new TGC token may present a viable alternative for investors after its presale surges towards its $5 million hard cap.
Analyst Warns Solana Is Forming a Similar Chart Pattern to 2021 Top
Renowned crypto analyst Jason Pizzino believes Solana’s bull run may be nearing its end as its price chart displays a similar pattern to its 2021 peak. Following the peak, SOL crashed 96%, indicating significant risk if Pizzino’s observation is accurate.
In a recent YouTube video, the analyst highlights that Solana experienced “extreme volume” at its 2021 peak and compared that to its similar recent trading volume.Pizzino notes that Solana climbed by 21% both times following the extreme volume but then lost momentum as bears took control of the market.
“It doesn’t mean it’s the end, but it looks scarily similar to what happened at the peak here, just on a shorter-term time frame. You can see this massive pump up to about $220, the pullback, and then the market attempted to go higher, couldn’t do it, came underneath, got rejected, and then, of course, the macro bear market started from that point.”
The analyst believes Solana may retest $85 or even $140 but states that the “move is quite limited,” given Solana’s existential downside risk due to slowing bullish momentum.
He then explained that the move is not yet confirmed and may take time, but a daily close below $63 would validate the trend reversal. Pizzino concluded the analysis by explaining that while traders may garner near-term gains, the imminent downside risk is “just not worth it.” Over recent months, Solana has experienced a significant price uptick, climbing from lows of $15 in June to $75 today, representing a 5x gain and putting its market cap at $32 billion. This is the main reason that Jason Pizzino believes SOL’s bullish days are ending.
However, one crypto that analysts remain bullish on is the cutting-edge crypto casino, TG Casino. The project is undergoing its presale, meaning it has yet enabling investors to buy in at the lowest price.
TG Casino Emerges as New High Potential Altcoin
TG Casino is a newly launched crypto casino offering tremendous advantages over those already on the market. It is launched on the Telegram application, making it much more accessible and user-friendly while benefitting from Telegram’s end-to-end encryption.Moreover, TG Casino is KYC-free, meaning users can get started in seconds. This is a notable advantage over market leader Rollbit, which is criticized for its drawn-out signup process.
Another benefit of TG Casino over market leader Rollbit is that it is licensed and regulated. As such, users can rest assured that they are gambling on a safe and legitimate platform. The team has also passed a KYC audit, and its smart contract received a flawless audit from blockchain security firm Coinsult, both further attesting to its security.
Meanwhile, the $TGC token provides countless benefits like free rewards, access to exclusive games and rooms, 25% cashback on losses, up to a 200% rakeback bonus, and much more. Due to these benefits, analyst Poe believes that TG Casino could compete with Rollbit. Currently, Rollbit has a $620 million market cap, providing $TGC room for almost 50x growth. Currently, investors can buy TG Casino at presale. However, it has raised $4.1 million in ten weeks with a $5 million hard cap, so those looking to buy should act fast.
This news is republished from another source.
